Thule Group agreed to acquire Curli AG, a Swiss-based maker of dog harnesses, for SEK 118 million ($13 mm). Curli’s revenue in 2025 amounted to SEK 75 million ($8 mm).
The product range complements Thule’s current range of products for safe dog transportation in cars and on bikes.
Thule said, “Dog transportation products are one of Thule’s fastest-growing product categories and have been identified as a future ‘Champion’ category. Champions are product categories where Thule is the global market leader and can out-innovate the competition. Building more and larger Champions is the top priority in Thule’s growth strategy. Since the launch of its first dog transportation product in 2024, the crash-tested Thule Allax dog crate, Thule has introduced several products for safe transport of dogs in cars and on bikes, all of which have been well received.”
Curli was founded in Switzerland in 2010 by Mark Zimmerman and Roland Primus with a goal of bringing dogs safely into mountain environments. Thule said Curli is a global leader in the premium segment, in particular for vest-style harnesses for smaller dogs.
Harnesses for larger dogs will be launched under the Thule brand already in the fall 2026. The acquisition of Curli also adds a foundation for continued development of dog transportation accessories as well as opportunities for synergies in the form of expanded distribution of Thule’s dog products.
“We welcome Curli’s dedicated team and excellent products to the Thule family. The market for dog transportation is growing, margins are strong, and we look forward to continuing to grow the category with more safe products for cars and bikes, as well as more accessories,” said Mattias Ankarberg, president and CEO of Thule.
“Thule and Curli share the same philosophy of creating products that perform in real-world conditions, for people who want to live active lives. We are very much looking forward to continuing to develop more market-leading products as part of Thule,” says Roland Primus, CEO of Curli.
Mark Zimmerman and Roland Primus will continue in their current roles as part of Thule.
Separately, Thule issued a senior unsecured bond of SEK 1,000 million ($109 mm) with a three-year maturity under the framework of its MTN program. Interest from investors was high and the transaction was oversubscribed 2.6 times. Proceeds will be used for general corporate purposes.
“We are pleased to have completed our first issuance within Thule’s recently established MTN program and we have seen a strong interest in investing in our bond. We look forward to continuing to be active in the bond market to broaden and diversify our funding sources,” said Toby Lawton, CFO at Thule.
Danske Bank and DNB Carnegie acted as financial advisers.
Image courtesy Curli AG
